Mizuho Lowers Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $1.50

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target cut by research analysts at Mizuho from $3.00 to $1.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price target suggests a potential upside of 114.47% from the company’s previous close.

ADAP has been the subject of several other reports. Guggenheim decreased their price objective on shares of Adaptimmune Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, November 15th. HC Wainwright cut their target price on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com lowered shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Adaptimmune Therapeutics presently has an average rating of “Buy” and an average target price of $2.79.

Adaptimmune Therapeutics Stock Performance

Shares of NASDAQ:ADAP traded up $0.02 during trading on Wednesday, reaching $0.70. 498,590 shares of the company’s stock traded hands, compared to its average volume of 1,714,187. Adaptimmune Therapeutics has a 12 month low of $0.42 and a 12 month high of $2.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The stock has a market capitalization of $178.96 million, a P/E ratio of -3.18 and a beta of 2.26. The company has a 50 day moving average of $0.82 and a 200-day moving average of $1.01.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently made changes to their positions in the company. Long Focus Capital Management LLC lifted its position in Adaptimmune Therapeutics by 15.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company’s stock worth $12,037,000 after buying an additional 1,662,184 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Adaptimmune Therapeutics by 10.7% in the 3rd quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock valued at $15,944,000 after purchasing an additional 1,626,657 shares during the period. GSA Capital Partners LLP bought a new stake in Adaptimmune Therapeutics in the 3rd quarter valued at $95,000. Renaissance Technologies LLC lifted its holdings in shares of Adaptimmune Therapeutics by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock worth $1,742,000 after acquiring an additional 394,566 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Adaptimmune Therapeutics by 230.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 30,000 shares during the period. Hedge funds and other institutional investors own 31.37% of the company’s stock.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops SPEARHEAD-1 that is in phase II clinical trials with ADP-A2M4 for synovial sarcoma; SURPASS-3 that is in phase II clinical trial with ADP-A2M4CD8 for people with platinum resistant ovarian cancer; and SURPASS that is in phase I clinical trials in patients with head and neck, and urothelial cancers.